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General Business: Coffee addict's - Help please :)
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I’m in the process of R&D; for a local Coffee shop. I spend at least 12 hours a week at our local café working on projects and drinking coffee (Huge Coffee Fan) I live in Cocoa beach, Florida, which is starting to become a saturated market for coffee shops.
So I’m looking for ideas to have a competitive advantage, once I open up shop.
Any Creative Ideas? -
Oof, from what I've read the coffee business is not the easiest one to be in. Low margins on coffee (unless you charge Starbucks prices), means you are relying on baked goodies, etc.
My first question is -- how do you beat the big guys? How do you keep your margins up and overhead down?
My Personal Finance Blog -
What?! Coffee has HUUUGE margins, even at great discounts from Starbucks. Even if you cut your prices in half, you're still marking up 300% (or more!).
Proud founder of YGG -
Jay,
We've spoken for dozens of hours on the phone about the coffee business, and I'll say the same thing here:There is opportunity in everything.
Don't worry about the competition or Starbucks, worry about figuring out the problem you're trying to solve.
A coffee house (aka cafe) is a big investment and would greatly benefit from having an advisor that's built one themselves in the past.
This might be a good way for you to get started.
Proud Partner of YGG -
i don't know much about coffee shops there, but here in asia, coffee shops that do well have (a) free wifi connection - students and professionals love this (b) nice soothing music (c) great low-calorie pastries, on top of great coffee of course.
may i ask how much a cup of coffee costs over there? in asia, a tall latte is about $2.
Affordable Web Development - Outsource to Manila + PickyGuide -
$3.00-$4.00 for a decent sized cup
Proud founder of YGG -
Just FYI - CoffeeForums is a good resource
Proud founder of YGG -
all ready on top of it.
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I don't drink much coffee (never loved the flavor, unless it has tons of sugar, milk and possibly caramel and chocolate). IMO a good coffee shop has:
- Comfortable couches and armchairs
- Great music (preferably Jazz)
- Great mixed and specialty drinks
One of my favorite coffee places is Ink Coffee simply because of the atmosphere it generates. Very chic.
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I work at Tim Hortons, the biggest coffee place in Canada. Each pot costs $1 to brew. The cheapest size is $1.20. I would say on average they make $6 per pot. A big part of it is selling a donut or a cookie at the same time, if you can do that you have doubled your profits for the day.
Wes Bos - Graphics and Web Design -
A family friend of mine owns a coffee shop and has great business. I think what sets them apart from others is the key location. The coffee shop is in a city where the majority of the population is young adults, mainly 20's, that attend local art universities. The place is quite trendy, and their products are top of the line.
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